Exploring Johor Bahru Real Estate with Family
This article summarizes a family's experience exploring real estate options in Johor Bahru (JB), Malaysia. The family, including parents visiting from Beijing, investigates different types of properties, considers the pros and cons of investing, and seeks advice from a local real estate agent.
Initial Impressions: Forest City and Golf Resort Villas
The family's property search began with a visit to the controversial Forest City development. They were then taken to a golf resort villa area about 8 kilometers away. While initially impressed by the visual appeal of the lush green golf course and the blue skies, the narrator expresses a slight unease as the agent had not inquired about their specific needs.
Visual Appeal and Amenities
The golf resort villas offered a striking visual contrast to Beijing. The agent emphasized the location within a special financial zone, the benefits of the "Second Home" policy, and community amenities such as WeChat groups and free shuttle services, which appealed to the parents' concerns as elderly buyers. The houses themselves were described as three-and-a-half-story row houses with attractive model home designs. The starting price was around 1.18 million MYR.
Golf Club Experience
Following the house viewing, the family visited the golf club. The father, a keen photographer, enjoyed taking pictures. He was surprised by the affordable cost of a basket of golf balls (15 MYR) compared to Beijing, where it could cost two to three hundred RMB.
Exploring Forest City and its Attractions
The family also visited Forest City's beach. The father enjoyed taking photos of the scenery. He also commented on the excellent air quality in Malaysia, a welcome change from Beijing.
Positive Impressions of Malaysia
The parents expressed positive sentiments about Malaysia, particularly comparing it favorably to Sanya, China. They highlighted the comfortable environment, consistent climate, and the potential health benefits of the weather.
Culinary Experiences: Hot Pot and Local Coffee
The family enjoyed a Taiwanese hot pot meal at "Pot Ma," costing 29.9 MYR per person. They also tried local Nanyang coffee and kaya butter toast, with the mother particularly enjoying the sweetness. A friend introduced them to the concept of dou zhi (fermented mung bean juice), a Beijing specialty, but it was not well-received.
Seeking Expert Advice: Agent Lee
The narrator sought the assistance of a highly recommended local real estate agent, Lee. He had previously helped them find rental properties and provided exceptional service, going above and beyond his duties to assist with various household issues.
Lee's Professionalism and Support
Lee's dedication and attentiveness to their needs impressed the family. They viewed three properties with him, highlighting his respect and consideration for the elderly parents.
First House Tour with Lee
The first house they viewed with Lee featured a separate study on the first floor, which was deemed desirable. The house had three bathrooms downstairs and four rooms upstairs, each with its own bathroom, providing excellent privacy.
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The house size was 3,589 sq ft.
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Each room had high ceilings.
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One can expand the balconies of the house.
Lee answered questions about property taxes, which are higher for foreigners and decrease after 5 years. He also addressed concerns about the Johor Bahru real estate market. The house was priced near 3 million MYR.
Insights on the Johor Bahru Real Estate Market
Lee explained that Johor Bahru's property market is often described as "priceless but unmarketable" due to high asking prices for second-hand homes. However, he believes that properties in good locations, like Mount Austin, offer strong investment potential. He estimated that prices in the area could increase by at least 50% in five years, with independent houses potentially doubling in value.
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He emphasized the importance of buying at the right price and being willing to negotiate.
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He noted the appeal of Johor Bahru to Singaporeans due to rising property prices in Singapore and the favorable exchange rate between the Malaysian Ringgit and the Singapore Dollar.
Advantages for Foreign Buyers and Investment Potential
Lee recommended Johor Bahru for both investment and owner-occupancy, particularly landed properties. He highlighted the area's proximity to Singapore and the ongoing development of the region. The sales rate in the area was reported to be high (80%-90%), with strong interest from both local and foreign buyers, although foreigner quotas are limited.
Features and Amenities of the Second House
This house features seven bathrooms and five houses.
Third House: A Smaller Option
The family viewed a smaller, third house, approximately 1,800 sq ft. It was perceived as more practical and suitable for their needs. The house was likely to be foreigner purchasable and to be snapped up quickly.
Local vs. Tourist Properties
The family compared property in Mount Austin to property near golf courses. They felt the Mount Austin property was better for their needs due to its location in a more developed neighborhood.
Final Thoughts and Recommendations
The narrator aimed to document their family's experience exploring the Johor Bahru real estate market. They acknowledged their limited knowledge of the local market and the need for further research. They welcomed suggestions and insights from viewers. Overall, the experience provided valuable insights into the potential of owning property in Malaysia.
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